14 teams compete in the league, with the top 6 teams at the end of the regular season play qualifying for the playoffs to determine the league champion, known as the Česká pojišťovna play-off Tipsport extraligy. The teams that finish 7th through 10th play a play-in series (best-of-five) to determine who will join the top six into the playoff quarter-finals (best-of-seven). The four lowest ranked teams (11–14) after the regular season play in a play-out group (12 games, all regular-season matches are counted into the ranking). The two worst placed teams after the play-out group plays with the two semi-finalists of the First League in qualify group,they will play totally 12 matches,(twice home and twice away with every team in group), with the 1st and 2nd placed teams of that group being qualified to play in Extraliga the following season while the 3rd and 4th plays in the First League.

During the 2011–12 season the association of Czech Extraliga managers attempted to close the league to prevent any relegations to or promoting from the second tier national league and also set a maximum salary cap similar to the NHL system.[2] However, after some legal difficulties and strong opposition by the public the whole proposition was scratched.

The 1994-95 season marked the beginning of the Vsetín dynasty. In its first year in the league, HC Dadák Vsetín finished first in the regular season and later won the playoffs, beating AC ZPS Zlín 3 to 1. Vsetín would go on to win the next four installments of the Extraliga, with the team usually finishing first in the regular season as well. No team ever even came close to matching the feat of dominance that was shown by Vsetín throughout the second half of the 1990s.

In the 1995–96 season, the league expanded from 12 to 14 teams. This was the final expansion made to the league and 14 teams have been playing in the league eversince.

The 1998–99 season would be the last for one of the league's most traditional participants, HC Dukla Jihlava. The team lost the qualification series against HC Znojemsti Orli. Dukla later appeared in the 2004–05 installment of the Czech Extraliga, putting up a non-impressive 6-0-5-40 record and were relegated that same season.

In the 1999–2000 season, HC Sparta Praha broke Vsetín's five year long winning streak, defeating them in the finals. This was the only time Vsetín was defeated in the finals, as they would get their revenge and beat Sparta in the finals a season later. The 2000-01 season was the last time Vsetín managed to advance to the finals, and the team began falling further down in the standings every season.

For the first and only time, Sparta and Slavia would appear in the finals in the 2005–06 season. Sparta was the more successful team out of the pair, triumphing over Slavia 4 games to 2. Sparta would win the cup in the next season as well, this time defeating the 2004-05 champion Pardubice in 6 games.

Vsetín's run in the Extraliga would come to an end after the 2006–07 season. The Czech Ice Hockey Federation would revoke the club's extraliga license due to the team's enormous debt, forcing them to fold. As a result, no other teams were relegated that season and the First League champions, HC Slovan Ústečtí Lvi, were automatically promoted to the Extraliga. The 2007–08 season was the only season Slovan ever appeared in the Extraliga, as they were relegated back to the First League at the end of the season.

Since the 2006–07 season, 3 points have been awarded for a regulation win and 2 points for an overtime victory, while the defeated team in overtime gets 1 point. If necessary, penalty shots are used to decide games after overtime. Also from the 2006–07 season through the 2007–08 season there was only one assist credited for each goal instead of the standard two that other leagues credit. This rule change affected league statistics in a negative manner, and so the rule was changed back to the standard two assists starting in the 2008–09 season.

The first open-air hockey game since the 1960s took place during the 2010-11 season in Pardubice. The attendance for this game was record breaking, with 17 140 people in the crowd. The home team squared off against HC Kometa Brno, for whom this was the first season back in the Extraliga since 1995. Pardubice won this game 4-2.

HC Mountfield České Budějovice was forced to sell its license after the 2012–13 season, due to an interesting dispute. At the end of the season, Extraliga announced that Radegast would be the new beer sponsor for the league. However, Mountfield had a naming rights agreement with Budweiser Budvar Brewery at the time, and would therefore be unable to sell any other kind of beer at their stadium. As a result of Extraliga and the club not being able to reach an agreement, the team sold its license to Hradec Králové, thus forming Mountfield HK.